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The table shows an annual deposit schedule in an account that accrues 5% annually. What's the account balance after the eighth deposit? End of Year
The table shows an annual deposit schedule in an account that accrues 5% annually. What's the account balance after the eighth deposit?
| End of Year | Amount |
| 1 | 10,000 |
| 2 | 12,000 |
| 3 | 14,000 |
| 4 | 16,000 |
| 5 | 18,000 |
| 6 | 20,000 |
| 7 | 22,000 |
| 8 | 24,000 |
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Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
6th Edition
0321113624, 978-0321113627
